NETWORK RAIL AND BIRMINGHAM CITY COUNCIL APPOINT KEYSTONE RETAIL PROPERTY FOR PALLASADES LEASING: Keith Stone, Pallasades shopping centre

Tuesday 10 Jan 2012

NETWORK RAIL AND BIRMINGHAM CITY COUNCIL APPOINT KEYSTONE RETAIL PROPERTY FOR PALLASADES LEASING

Region & Route:
National

Network Rail and Birmingham City Council have appointed Keith Stone, of Keystone Retail Property, as a consultant to lead the leasing of the Pallasades shopping centre, which is being significantly upgraded and remodelled as part of the major redevelopment of Birmingham New Street station.

The reconfigured Pallasades shopping centre will consist of 150,000 sq ft of high quality retail space in the heart of the city and will be located next to the new 250,000 sq ft John Lewis full line department store which is scheduled to open in Autumn 2014.

Mr Stone brings over twenty years of expertise in retail property, has held senior roles at Land Securities and Lend Lease and previously been responsible for the leasing of Bluewater in Kent, Cabot Circus in Bristol and Touchwood in Solihull.

Mr Stone said: “This is an exciting time for the Pallasades shopping centre. Securing John Lewis to anchor the scheme was a big win for Birmingham, and will have a major impact on shopping patterns in the city. We will now look to create a high-quality retail destination for retailers, restaurants and cafes complimentary to the John Lewis brand. The redevelopment of New Street station and the Pallasades will create new jobs, stimulate regeneration and help confirm Birmingham city centre as one of the leading retail destinations in the country.”

The redevelopment of Birmingham New Street station is backed by Birmingham City Council, Network Rail, Department for Transport, Centro and Advantage West Midlands.

Notes to editors

Keith Stone:

 

2004 to 2011: Leasing Director – Land Securities

1995 to 2004: Leasing Director – Lend Lease

1994 to 1995: Evans of Leeds

1993 to 1994: Burton Property Trust

1980 to 1993: Bredero

Birmingham New Street Redevelopment:

 

1. The Birmingham Gateway project is supported by Network Rail, Birmingham City Council, Centro, Advantage West Midlands and the Department for Transport.

2. Network Rail is delivering the project alongside its delivery partner, Mace.

3. Birmingham City Council signed a heads of terms agreement with John Lewis in February 2011 for a full-line John Lewis department store to be located on a development site to the south of New Street station. The 250,000 sq ft John Lewis shop, will be one of the largest John Lewis department stores outside London and will open in 2014.

4. The redevelopment of Birmingham New Street will double passenger capacity, improve access down to the platforms and improve pedestrian links across the city. The project will deliver:

- a concourse that is three-and-a-half times bigger than at present and enclosed by a giant, light-filled atrium

- more accessible, brighter and clearer platforms, serviced by over 40 new escalators and over 15 new public lifts

- a stunning new station façade

- better links to and through the station for pedestrians, with eight new entrances

- the stimulus for the physical regeneration of the areas surrounding the station


Network Rail:

  • Is the 'not for dividend' owner and operator of Britain's railway infrastructure, which includes the tracks, signals, tunnels, bridges, viaducts, level crossings and stations - the largest of which we also manage We aim to provide a safe, reliable and efficient rail infrastructure for freight and passenger trains to use Our website: www.networkrail.co.uk
  • Is one of the largest land and property owners in the country and will generate over £1bn in the next five years from commercial activities for re-investment in our rail estate. This would be enough to transform Birmingham New Street or King’s Cross stations, or put in place 5,000km of new railway.
  • Has over 480,000 sq ft retail space at 18 of the largest stations across the country – that’s more retail space than Bluewater – showcasing many leading high-street brands.
  • Is the country's largest provider of commercial property to small and medium sized businesses with over 7000 properties nationwide.
  • In addition, works in partnership on existing development projects, including multi-million pound commercial schemes above our stations at London Bridge (Shard) and Cannon Street and our first multi-site joint venture: Solum Regeneration.

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